Bancroft family meets to mull Dow Jones offer

Published on July 23, 2007.

New York—The Bancroft family, which controls 64% of Dow Jones & Co.'s voting stock, meets in Boston today to consider News Corp. $5 billion bid for the company, which publishes The Wall Street Journal.
For the deal to be approved, less than one-third of the Bancroft family vote is needed. Dow Jones’ board tentatively approved the deal last week.

News Corp. Chairman-CEO Rupert Murdoch in April offered to buy Dow Jones for $60 a share, a 67% premium on the company’s stock price before the offer became public.